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60 <br /> (9) defeasances; <br /> (10) release, substitution or sale of any property securing repayment of the <br /> 2021 Bonds, if material; <br /> (11) rating changes; <br /> (12) bankruptcy, insolvency, receivership or similar proceedings related to <br /> the County, the Trustee or any other person or entity that may at any time become <br /> legally obligated to make Bond Payments (collectively, the "Obligated Persons"); <br /> (13) The consummation of a merger, consolidation, or acquisition involving <br /> an Obligated Person or the sale of all or substantially all of the assets of the <br /> Obligated Person, other than in the ordinary course of business, the entry into a <br /> definitive agreement to undertake such an action or the termination of a definitive <br /> agreement relating to any such actions, other than pursuant to its terms, if material; <br /> (14) Appointment of a successor or additional trustee or the change of name <br /> of a trustee, if material; <br /> (15) Incurrence of a financial obligation (as defined below) of the County, if <br /> material, or agreement to covenants, events of default, remedies, priority rights, or <br /> other similar terms of a financial obligation of the County, any of which affect <br /> Bondholders, if material; and <br /> (16) Default, event of acceleration, termination event, modification of terms <br /> or other similar events under the terms of a financial obligation of the County, any of <br /> which reflect financial difficulties; and <br /> (d) in a timely manner, not in excess of ten Business Days after the <br /> occurrence of the failure, notice of a failure of the County to provide required annual <br /> financial information described in (a) or (b) above on or before the date specified. <br /> "Financial obligation" means (a) a debt obligation, (b) a derivative instrument <br /> entered into in connection with, or pledged as security or a source of payment for, <br /> an existing or planned debt obligation, or (c) a guarantee of an obligation described <br /> in either clause (a) or (b). The term "financial obligation" shall not include municipal <br /> securities as to which a final official statement has been provided to the MSRB <br /> 29 <br />